https://www.taxtmi.com/caselaws?id=774139 A cheque issued as security is not immune from Section 138 of the Negotiable Instruments Act if it is voluntarily signed and delivered and liability exists when presented; statutory presumptions under Sections 139 and 20 may apply unless rebutted with cogent evidence. Once CIRP commences, the moratorium and suspension of management bar initiation or continuation of a Section 138 complaint against the corporate debtor, and directors cannot be vicariously prosecuted under Section 141 where the company itself is not prosecutable as principal offender. Dishonour recorded as "drawer's signature differs" in the context of insolvency control did not sustain the complaint, which was held not maintainable. en-us Fri, 27 Jun 2025 00:00:00 +0530 Fri, 04 Jul 2025 08:38:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774139 A cheque issued as security is not immune from Section 138 of the Negotiable Instruments Act if it is voluntarily signed and delivered and liability exists when presented; statutory presumptions under Sections 139 and 20 may apply unless rebutted with cogent evidence. Once CIRP commences, the moratorium and suspension of management bar initiation or continuation of a Section 138 complaint against the corporate debtor, and directors cannot be vicariously prosecuted under Section 141 where the company itself is not prosecutable as principal offender. Dishonour recorded as "drawer's signature differs" in the context of insolvency control did not sustain the complaint, which was held not maintainable. Case-Laws Indian Laws Fri, 27 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774139